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20121101
20121130
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hostess funeral home. sgit that hail mary effort yesterday between hostess executives and the bakers u.n. to try union, they tried to come to a deal. they couldn't. now it's back to square one, what the judge was discussing on monday, a potential liquidation. they wanted to avoid it. they wanted to avoid costing as many jobs as it would. 18,500 people. that's how many people hostess employs. here's some issues that are going to be on the docket for certain. there is a motion by a trustee to liquidate the company in chapter 7, not chapter 11. what that means is new management would be appointed to affect the winddown, not the current management in place. another motion deals with executive pay. right now the executives are slated to get about $1.75 million as part of the wind-down effort. also a motion over what the employees who would be retained at hostess, those 3,200 people, would actually get paid once they stayed on board and help with the wind-down. the ceo of the company said the wind-down or shutdown, liquidation, whatever you want to call it, costs about $1 million a day. it's n
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